Central Banking
Expectations matter for interest rates: Norway’s Olsen
Norges Bank governor Øystein Olsen says the effect of interest rate changes varies markedly on market expectations
Hungarian governor requests meeting to discuss loans
Andras Simor wants to discuss ways to help Hungarians struggling under the burden of loans; asked to share ideas on financial stability with prime minister
Serbia reveals new deputy governor
National Bank of Serbia appoints Diana Dragutinović as deputy governor
Thailand's finance minister supports SWF plan
Thai finance minister Thirachai Phuvanatnaranubala urges central bank to consider establishment of sovereign wealth fund to manage foreign currency exposure
Top officials discuss economic gloom in Italy
Key votes reveal lack of confidence in US economic policy and the future of the eurozone
Former chancellor criticises BoE’s King
Alistair Darling accuses Bank of England governor of not recognising the “scale of the problem” the UK faced as the financial crisis took hold
Taiwan denies controlling exchange rates
Central bank issues “clarification” of the “managed floating exchange rate regime” in place in Taiwan
RBNZ offers guidance on money laundering crack-down
Reserve Bank of New Zealand issues code of conduct for financial institutions as part of anti-money laundering legislation
ECB’s Praet highlights importance of Sepa co-operation
European Central Bank executive board member Peter Praet says right balance must be struck between Sepa co-operation and competition
Buba paper on circulation of German euro banknotes
Bundesbank study estimates two-thirds of Germany-issued euro banknotes are in circulation outside Germany
Communication on employment key to Fed credibility: Kocherlakota
Minneapolis Federal Reserve president Narayana Kocherlakota says difficulties in quantifying maximum employment pose challenges for FOMC
Global financial linkages amplified US shocks: IMF paper
Fund study says close financial and trade links between Europe and US magnified effects of US housing market bubble
FSB identifies areas for possible further shadow-banking regulation
Financial Stability Board highlights five areas needing more work to help gauge the case for further regulatory action concerning shadow banking
Getting ready for Vickers
Roger Alford an emeritus reader in economics at the London School of Economics takes issue with the core of the British banking system reform
Buba’s Weidmann welcomes new president of Hanover branch
Stephan Freiherr von Stenglin is new president of regional branch; takes over from Werner Ehlers who retires
New York Fed announces two new directors
Glenn Hutchins and Terry Lundgren appointed as Class B directors
Vote now: Are central banks losing their independence?
CentralBanking.com is running a poll on whether central banks are losing their independence
Global risks impacting outlook for Thailand: governor
Prasarn Trairatvorakul relates optimism for Thai economy but warns on future export performance
ECB foreign reserve managers need different incentives; working paper
Research suggests new rewards system for foreign reserve managers would help align results with ECB preferred outcomes
Riksbank paper investigates sectoral inflation
Working paper suggests flaws in past research on the topic
Spain learns from the past; working paper
Analysis of monetary system in the 1800s shows contraction in the money supply had a milder effect on the economy than expected
UK jets deliver currency to Libya
Royal Air Force flies banknotes to Central Bank of Libya in Benghazi
Brazil cuts benchmark rate in surprise move
Monetary Policy Committee drops benchmark interest rate from 12.5% to 12% in unexpected decision
Japan’s new prime minister to tackle economic recovery
Ambitious monetary policy likely to continue as Yoshihiko Noda takes over as prime minister of Japan